Why an accounting audit is so important
Accounting, especially when taxes are involved, is often neglected until too late. Even a single reporting error can result in fines, blocked transactions, and unwanted attention from the Revenue Service. Every year the Georgian Revenue Service collects roughly GEL 400 million in fines and penalties. How can you avoid this fate?
Unlike expensive certified audits, PB Services takes a practical approach to data restoration in Balance and internal audit. We find critical errors in documentation to eliminate tax risks and get your financial processes in order without breaking the bank.
Highlights
Who could benefit from an accounting audit
Small and medium-sized businesses
Unlike large companies with assets of GEL 10 million or more, Georgian law does not oblige SMEs to undergo a mandatory audit, making it difficult to catch problems in time, with accounting errors adding up over years.
Branches of foreign companies
Head Office’s understanding of Georgian law may be imperfect, resulting in incorrect VAT, income, and expenses, creating a bottleneck for the whole group.
Start-ups and new companies
Start-ups can be chaotic, and accounting can get done on the fly. An audit will help ensure the business is standing on stable ground.
Those preparing annual reports
Financial statements should be based on the clean data evaluated by the tax authorities and partners. It’s the cornerstone of your reputation.
Other times the service can be useful:
- When changing accountants and/or discovering errors in previous records;
- When there is no accounting or it’s incomplete;
- When you have been filing your own returns and have doubts about their accuracy;
- When your accounting data differs from the data on the Revenue Service Portal.
Get in touch
service
What PB Services can do for you
Accounting Analysis
Tax Audit
Assessment of internal procedures
Checking payroll
Financial analysis
Report with recommendations
Notes
Our rates
Three formats
PB Services partners can take advantage of a one-time audit, comprehensive annual or quarterly audits, or regular monthly audits with greater oversight.
Flexible business prices
Get data restoration and audit or audit only as needed. The price of the service depends on the volume of transactions and the audit period.
step by step
How we work
Consultation and data collection
Work with Balance
Reporting
Data reconciliation and conclusions
benefits
